Company registration number.. 01110693 Charity registration number.. 266193 EUROPEAN STRING TEACHERS ASSOCIATION UK Branch ESTA String Teachers Association Ltd IA company limited byguarat)teel Annual Report and Financial Statemerbts for the Year Ended 30 September 2022 'AC6QX7?5' x1ft)trl3 COMPANIES HOiJSE
ESTA String Tea¢her5 Association Ltd Contents Reference and Administrative Detai15 Strategic Report 2to4 Trustees, Report 5t08 Accountants, Report Statement of Financial Artivities io Balance Sheet Ilto12 Notes to the Financial 513tements 13to25
ESTA String Teachers Association Ltd Referen and Administrative Details Chairman Nicole Jesyca Kate Wilson Secretary Philip William Aird Charlty Reglstration Number 266193 Company Re8iStration Number 01110693 The charity is incorporate(l in En8land & Wales. 46 Topham Crescent Thorney Peterborough PE6 OSR Re815tèréd Office Principal Offke 61 Wodds End Lane Weston Turville Aylesbury Buckinghamshire HP22 5RX Independent Examlner Welboume & Co Ltd Chartered Certified Accountants 16 Birch Grove Elrn, Wisbech Cambridgeshire PE14 OAP Acttyjntants Coates Business Servites Ltd Accountants and Business Advisors 46 Topham Crescent Thorney Peterborough PE6 OSR Page I
ESTA String Teachers Association Ltd Strategit Report for the Year Ended 30 September ZO22 The trustees. who are directors for the purposes of company law. psent their Strateg report for the year ended 30 September 2022, in compliance with s414C of the Companie5 Act 2006. Achievements and performance In the year from October 2021 to September 2022. the affairs of ESTA UK began the slow return to normal fter Covid. We had 4 live events. the first since before Covid (apart from the 2021 Summer Schooll. There was Steve Bingham rnasterclass in Bedford in March, and a Judy Tarling baroque workshop in East Sussex in Mav. Also in May. we held a Head of Strings conference at the Royal Welsh Colleges ol Music and Drama. And of course. there was the Au8USt Summer School. The were also 16 online events with numerous diflerent themes. Some of these were introducing speakers who were subsequently going to present at the Cardiff International Conferencè in April 2023. Thtst wèbinars are still happening once a month. In addition, thanks are due to the excellent work of our Sub-Editor for Digital. Print and Media, Rob Simmons. for our social media presence. particularly on Facebook. Twitter. and Instagram. These posts and tt¥eets help to keep our profile high and have a wide and increasing following. The main headline in ESTA Education was the establishment of the MA course in prartical teaching. This is a continuation of our existing and flourishing - PGC course. It b5 also available in Mandarin. So far, we have 7 onfirrned students in English and 5 in Mandarin. The CfT course is still suspended due to the situation in Hon8 Kon8 and China. A total of 14 students started the PGC course in the period. with S students embarking on the CME. The excellent management team remained as before. with Helen Oromey - to whom many thanks - in charge of the operation. I would like io thank our excellent team of mentors for their untiring and altogether brilliant work. Maureen Hanke has coniinued to run the CME course very effettively. Than are also due to Madeline Kam. from Hong Kon& who has continued to publicise our tourst5 in thè Far East arbd kttp our prolile prominent in the area. Membership was broadly stable through the period. The financial effert of Covid continued, but the Government's 103n of £25,CQO continued to keep us afloat. That loan has now reduced to £17.537 at time of writlng. Many thanks are due to Matthew Coates. our accountant. and our treasurer. Ted Wilson. for their expert handling of our financial affairs. Our regional offiter system h35 been replaced by a tommittee of regtonal advisor5, who make up. alongside the Executive Committee. the Regional Advisory Team. Many thanks to our wonderful Regional Advisors. Our Svrnmer School in Au8USt 2022 featured the return, by popular demand, of the Rolland teachers from the US, joanne May and Ida Mercer. The previous Summer School had run at a small loss. This year we almost broke evenl Huge thanks are due to all our presenters in and our excellent management team of Sheila Holdsworth, and Nadiya Corascia. Our good relations wih sister organisations around Europe and the United States and Australia continued. particularly in relation to asking for applications to present at our International Conference to be held at Cardiff in April 2023. We invited people to apply shortly after the Graz Conference. in May. By August, nearly 90 applications had been made. My own terni on Central 8oard came to an end in April and I wa5 succeeded by Nicole Wilson. who was unanimously ¥oted in at the Delegates. Meeting in Graz_ We also maintained close contact with other music edLtcaiion or8anisations in the UK. Poge 2
ESTA String Teachers Association Ltd Strategic Report for the Year Ended 30 September 2022 Our officers continued their excellent work. Philip Aird, our CEO, Steve Bingham, our Editor and Membership Secretary and Rob Simmon5 had weekty meetings throughout the year. An extra member of our team this year has been Liz Goble. who with Philip, will be managing the Cardiff ConfeTence. It would be impossible to overstate the excellence of the work all our officers do for us_ A huge thank you to them all. Thanks also to the Exetutive Committee, consisting of the CEO. the Chair, the Treasurer and Nicole Wilson and Joanne Green. Council met re8ulafly through the year, and I'm very grateful to them all for their wisdom. comrnitment and expertise. This year, lo Cole. Liz Goble, Gwilym Ho95en and Ted Wi150n left the Council because they were at the end of their terms. A huge thank you to them all for their commitment and dedication to the organi5ation. Of course, Ted has continued as our Tasurel. and Liz. as mentioned above. took on a new role with the Conference Team. We warmly welcorne our new Council mefflber5. Clifton Harri50n and Philip Heyman, both of whom have already been very active. Our Council Working Parties continued to work effertivety- The repertoire database was launthÈd in èarlv 2022. It 15 now avatlable in the members. Section of the website. Many thanks are due to Cathy Elliott for her tireless work on thi5 projett. Members are now invited to tske a critical look at it, Use it, and suggest amendments and additions. Nicole Wilson thaired a Working Party to create a mentorship scheme to help teachers become better at the business aspect of their work. This 15 now up and running. -Player related injuries and mental health" is a workin8 party led by Jacky Wood5. which is making Pfogress. The Cardilf 2023 working party was led by Liz Goble. The VMT Iled by Sharon Sulli¥anl and Di¥er51ty IKadiatu Kanneh-Ma50nl working partie$ are updating their documents on an annual basis. No report by me of our artbvities would be complete without the ¥ery wannest thanks to our CEO, Phtlrp Aird, without whom none of the above would have happened. My twelve years of collaboration with Phil, ending at this AGM as I retire from the Chair, have been, wjithout doubt. the best of my piofessional life. I wish mv successor, Nicole Wilson the very best as she work5 with Phil and the teaffl into the future. FSnanclal rèvlèw Our financial position has improved SiBnificantly with an operating surplus ol just over 34k. Our investments continued to be managed by Rathbone5. Council considers this to be a safe place to keep our reserves, both restricted and unrestricted. They consistently manage io produce resu5 better than the stock market averages. We have continued to recover from the challenges brought on by Covld. and hope that the Cardiff International Conference will draw in more members in the future. One of the plans we had for the Conference was to offer free places to younger teachers. both at home and abroad. We consider this potential Ios5 leader to be a sound inve5tfflent in the future of our ofganisation. The ESTA Bursary Committee still cornprised myself 35 Artin8 Chair. and 8ecky Webb as Bursary Officer for the Nannie Jamieson Nutshell Fund. We welcomed Julian Carlick as Bursary Officer for the Joan Dick50n Chamber Music Fund. WelcoFne to the £STA family, lulianl Cathy Elliott and Cecily Mendelssohn are looking after the Sheila Nelson Strin8Wi5e Fund. Our other member is Marion Pedder. Many thanks to all. Things are still rather slow after a complete cessation of all courses in the early stages of lockdown. but we are hopeful to get back to normal soon. The Trustees have a reasonable expectation that the c¢)mp8ny will continue in operational existence for the foreseeable future and have. therefore. used the going concern basis in preparing the financial statements. Page 3
ESTA String Teathers Association Ltd Strategic Report for the Year Ended 30 September 2022 Funds In defidt Our financial position for the year rtarted as technical insolvent. but as lockdown5 eased and the world started to get back on its feet. our p05ilion improved with it. By the erTrd of the year the unreserved fund deficit had corrected itself and is in a much more Stable position. Our investments continued to be managed by Rathbones. Council considers this to be a safe place to keep our reserves. both restricted and unrestricted. They consistently manage to produ resutts better than the stock market averages. Plans ft*rfvture perlods Alms andkeyoblecti¥esforAirture periods At the top of our agenda in the next financial year is. of course. the Cardiff International Conference. Plans were almost completely finalised by October 2022, with venue and presenters booked. and sponsors obtained. whose generosity and support we value highly. We are grateful to them all. especially Addarl0. our principal sponsor. It has been a real pleasure to work wtth Marku5 Lawrenson and hi5 team. Thry have not only supported us finoncially, but also provided some really wonderful presenters and performers to enhance the event still further. We are also very grateful to all who applied to make a presentation, all 87 of thern, and are very sorry that constraint5 of time and space meant that we had to tum so many of them down. I personally wish the very besi to my successor. Nicole Wilson. I hope she will feel that she has inherited a broadly good siiuation. and I look forward to seeing how she leads our wonderful association into the future. The ptssiti¢n of Honorary Treasurer has rttently been advertised. due to the imminent retirement of Ted Wi150n. His 5ucce550r will be announced at the AGM. Ted has done a remarkable job over manv vears, or8anisin8 our financial affairs, battlin8 With the banks and generally doing a brilliant job. He will be mi55ed. Enjoy vovr retirement, Ted I Artfflvities plonned to o¢h¢¥e aims The PGC course. wilh the new addition of ihe full MA Course. will of course continue online into the foreseeable future. with an option to attend the Summer School. The CME course will continue 85 it is because it wa5 always seen as an online course, and we are very hopeful that the CfT course will be able to resume in the Far East just as soon as circumstances permit. Our webinars, a major success durin8 the lockdown, continue to happen monthly. We will be continuing to support all our members. and we trv)pe to attraa many more in the future. particularly the younger teathers. who have the hardest job establishin8 themselves in a teachirng career. and who we believe we can help in many ways. Finally, 35 1 retire from the Chair, I would like to thank all the wonderful people who make ESTA UK what it IS- Phil and hi5 rnanagement team, the ESTA Education team, the EBC Committee, the RATS. the Working Partie5, the Council and, most important of all, you the members_ Without you, we are nothing. I look forward to seeing you all at meetings online and fa to lace. Summer Schools and International Conferences. The strategi¢ rep was approved by ihe trnstees of the charity on 21 May 2023 and signed on r(s behalf bv.. John a¥le( Chèimian andTrustee PaBe 4
ESTA String Teachers Aswciation Ltd Trustees. Report The trustees, who are directors for the purp05e5 of Company law, present the annual report together with the financial statements of the charitable company for the year ended 30 September 2022. Trustees ar oificers The trustees and officers serwng durin8 the year and since the year end were as follows.. Trustees: Gwilym Hooson (resigned 15 May 20221 Sarah Drury Cecily Menelsshon NKole Jessica Kate Wilson Catherine Elliott Eli2abeth Goble (1$ned 15 May 20221 Edmund Osborne Wilson Joanne Bridget Cole {resigned 15 May 20221 John Shayler Andrea Jones Clifton Harrison lappointed 15 Mav 20221 Sharon Sulliwan Jacquelyn Myma Woods Philip Heyman lappointed IS May 20221 William Bruce Kadiatu Kanneh-mason Joanne Green Chairman.. Nicole Jessica Kate Wilson Secretary.. Philip William Aird Pa8e 5
ESTA String Teachers Assoclation Ltd Trustees. Report Oblertlves and artlvltles Objerts und ulm5 The aims of the company are: to promote the highest artistic and pedagoEjC Standards among teachers and students to promote lifelong high quality leaining of stringed instruments open to all, regardless of social or economic background The objeaives of the company are.. - to encourage close co-operation across all levels of string teaching to provide local and national forums for the exchange of ideas and experience in String teathtn8 - to work with other professional organi5ations to provide support and guidance for new strin8 teachers to sponser research and study of all phases of all strirb8 playin8 and teaching to promote conferences, workshops, lectures. discussions and to sponsor publications - to seek dissemination of pedagogical and relateij material amongst members Publlc benefit The company functions throu8h local. national and international conferences, masterclasses and workshops. Contacts are maintained with other organisations involved in music education. ESTA Centres throughout the country serve as a focus for local artivities. Grants are available to members for financial assistance with short courses on teaching. and with chamber music initiatives particularly in geographically remoter districts. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Structurè. go¥tmance and management OrqunisQtionol stNrture ESTA Strin8 Teachers Association Limited is a company limited by guarantee and a registered UK charity. It is the British branch of the European String Teacher5 A550Ciation. The Council, whose members are normallv directors of the company and trustees. oversees the managernent. Council members are elected at the annual general meeting. An Executive Committee tarry out policies and objectives. Flnanclal Instruments ObJertiye5 andpolicies The charity's artivities expose it to a number of financial risk5 including credit risk. cash flow risk and liquidity risk_ The use of financial derivative5 15 8overned by the charitvs policies approved by the board of trustees. which provide written principles on the use of financial derivatives to manage these risks. The charity doe5 not se derivative financial instruments for specu5ative purposes. Page 6
ESTA String Teacher5 A550ciation Ltd Trustees, Report Coshftow ns* The charbty's activities expose it primarily to the financial risks of changes in foreign currency e¥chan8e rates and interest rètes. The tharity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. Interest bearing assets and liabilities are held at fmed rate to ensure certainty of cash fflow5. Credit n5k The charitvs principal fEnancial a55et5 are bank balances and cash. trade and other receivables. and investments. The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance Sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified 1955 event which. based on previous experience. is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limtted because the Counterparties are banks with high credit-ratings asygned by international credit-rattng 38encies. The charity has no significant concentration of credit risk, with exposure spread over a lar8e number of counterparties and ¢ust¢)mers. Llquidity fisk In order to maintain liquidity to ensure that sufficient funds are available for ongoin8 operation5 and future developments. the charity uses a mixrure of lon8-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Statement of iryslees. responsthilities The tnjstees (who are also the dirertors of ESTA String Teachers Associatton Ltd for the purposes of company lawl are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Standard5 (Unried Kingdorn Generally Accepted Accounting Practicel, including FRS 102 'Yhe Financial Reporting Standard applicable in the UK and Republir of Ireland" The report and accounts have been Prepared in aCCor¢Jan with the provisions in the Companies Act 2(M)6 relating to small companies. Company law requires the trustees to prepare financial staternents for each financial year. Vnder company law the trustees must not approve the financial staternents unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incomin8 resources and application of resourtes. including its income and expenditure. of the charitable company for that period. In p¥eparing these financial statements. the trustees are required to= 5elert suitable accountin8 policies and app them con%stently.' observe the method5 and principles in the Charities SORP. rnakejudgements and estimates that are reasonable and prudent. State whether applicable accounting standards. comprising FRS 102 have been followed. subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the 80in8 concem basts unless it 15 inappropriate to presume that the charitable company will continue in business. P38e 7
ESTA String Teachers Association Ltd Trustees, Report The trustees are responsible for keeping proper accountin8 records thai can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Att 2l6. They are also responsible for safeguarding ihe assets of the charitable company and hence for takin8 reasonable steps for the prevention and detelon of fraud and gther irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation eoverning ihe preparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Small companies provision statement This ieport has been prepared in accordan wth the small companies regime undèr the Companie5 Act 2[6. The annual pOrt was approved by the trustees of the charity on 21 May 2023 and signed on its behalf by- Johtt Shty*r Chairman ènd Trustee Page 8
Accountants. Report to the Trustees on the Preparatlon of the Unaudited Statutory Accounts of ESTA String Teachers Assoclatlon Ltd for the Year Ended 30 September 2022 In order to assist you to fulfil your dutie5 under the Companies Act 2006. we have prepared for your approval the accounis of ESTA String Teachers Ass¢xiation Ltd for the year ended 30 September 2022 as set out on page$ 10 to 25 frL)m the ¢ompany'$ accovnting records and from information and explanation5 ygu have given us. This report 15 made 501ely to the Board of Directors of ESTA String Teachers Association Ltd, as a body, ir> accordance with the terms of our erbgagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ESTA Strin8 Teachers Association Ltd and state those matters that we have agreed to state to the Board of Directors of ESTA String Teachers ASlatIon Ltd. as a body. in this report in accordance wrth guidence from our professional body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ESfA String Teachers Association Ltd and its Board of Directors a5 a body for our work or for ihis report. It is your duty to ensure that ESTA String Teachers Association Ltd has kept adequate accountin8 record5 and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial p051tion and of ESTA String Teacher5 Assotiation Ltd. You consider that ESTA String Teachers Association Ltd is exempt frorn the statutory audit requirement for the year. We have not been instructed to tarry out an audit or a review of the accounts of ESTA String Teachers A5S0Ciation Ltd. For this rea50n, we have not verified the accuracy or completeness of the accountin8 records or information and exp5anations you have given to U5 and we do noi therefore. express any opinion on the statutory accovnts. Coates Business SeNces Ltd Accountants and Business Atlvisors 46 Toph3m Crescent Thorney Peterborou8h PE6 OSR 21 May 2023 Page 9
ESTA String Teachers A55¢xiation Ltd Statement of Financial Activities for the Year Ended 30 September 2022 Ilncludin8 Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2022 Total 2021 Unrè5trirted Re5trirted Note Income and Endowmentslrom: Donation5 arTrd legacie5 Charitable activities 86.663 176.226 102.708 189.371 176.226 3.896 750 102.LK16 55.730 3.114 1,305 Investment income 3.893 Other income 750 Total income 263,642 106,601 370,243 162,155 Expenditure on: Raising funds Charitable activities 13.$031 1120.S171 188,2371 13.5031 1125,5291 189,8761 12.3691 183.9761 188,099 15.0121 11,6391 Governance costs Toial expenditure GainlO$Se5 on investrnent assets 1212.2571 16.6511 1218.9081 1174.4441 117,9551 117,9551 12,846 Net income 51.385 81.995 133,380 557 Net movement in funds 51.385 81.99S 133.380 557 Reconclllatlon of funds Total lund5 brought forward 116.5561 171.481 154.925 154.368 Total funds carried forward 22 34.829 253.476 288.305 154.925 l of the charity'5 artivities derive from continuing operatK)ns during the above two periods. The funds breakdown for 2021 is shown in note 22. The notes on pages 13 to 25 form an inteEral part of these financial statements. Page 10
ESTA String Teacher5 Association Ltd (Reglstratlon number". 01110693) Balance Sheet as at 30 September 2022 2022 2021 Note Fixed assets Intan8ible assets TanBible assets Investments 14 15 1,212 190,546 402 160,247 16 191,759 160,650 Current assèts Debtor5 Cash at bank and in hand 17 14,720 142,905 5.455 27,966 18 157,625 33.421 Creditors: Amounts fallin8 du¢ within tsar 19 147,3291 119,5351 turrent a$t$ 110,296 13,886 Total assets less current liabilit¥es 302.055 174.536 Credltors: Amounts falllng due after morethan one year 20 113.7501 119.6111 Nel a55ets 288,305 154.9Z5 Funds of the charitv: Restrirted income fund5 Restricted funds 253,476 171,481 Unr*strictÈd Income funds Unre5trirted fund5 34.829 116,5561 Total funds 22 288.305 154.925 The notes on pages 13 to 25 form an integral part of these financial statements. Page 11
ESTA Strin8 Teachers A550ciation Ltd (Registration number: 01110693) Balance Sheet as at 30 September 2022 For the financial year ending 30 September 2022 the charity wa5 entitled to exemption from audit under sertion 477 of the Companies Att 2LK16 relattng to small companres. Dirertors, responsibilitie5: The members have not required the charity to obtsin an audit of its accounts for the year in question in accordance with section 476,. and The dirertors acknowledge their responsibilities for comptyin8 With the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance wilh the special provisions relating to companies subject to the small companses regime within Part 15 of the Companie5 Art 2CQ6. The financial statements on pages 10 10 25 were approved by the trustees, and authorised for issue on 21 May 2023 and signed on their behalf by.. John Shayler Chairman ènd Trustee The note5 on pages 13 to 25 form an integral part of these financial statements. Page IZ
ESTA String Teachers Association Ltd Notes to the Flnancial Statements for the Year Ended 30 September 2022 I Char5ty status The charity is limited by guarantee, incorporated in England & Wales. and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the Charity in the event of liquidation. The address of its registered office is-. 46 Tophaffl Crescent Thorney Peterborough PE6 OSR The principal place of business is: 61 Worlds End Lane Weston Turville Aylesbury Buckin8hamshire HP22 SRX These finan¢iJl statements were authorised for issue by the trustees on 21 May 2023. 2 Accounting polr¢ies Summary of signlficant accounllng policies and key acclntinge5knMates The principal accounting policies applied in the preparation of these financial statements are sèt out below. These policies have been consistently applied to all the years presented, Unle55 Otherwise stated. ststement of compllance The financial statements have been prepared in accordance with Accountin8 and Reporting by Charities.. Statement of Recommended Pfattice (applicable to charities preparing their accounts in aCCOfdance with thè Financial Reporting Standard applicable in the UK and Republic of Irelan¢J IFRS 10211 lissved in October 20191 (Charities SORP IFIIS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Cornpanies Art 2(. Basls of preparatlon ESTA String Teachers Association Ltd meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially reco8nised at historical cost or transaction value unles5 otherwise stated in the relevant accounting policy notes. Golng concern The trustees consider that there are no material uncertaintie5 about the charity's ability to continue as a Boing concern nor any signrficant areas of uncertainry that affect the carrying value of assets held by the charity. Income and en¢lowments All incorne is recognised once the charity has entydernent to the income, it is probable that the income will be re¢Ve and the amount ofthe income receivable can be measured reliably. Page 13
ESTA String Teachers Association Ltd Notes to the Financial Statements for the Year Ended 30 September 2022 Donotions ond legaties Donation5 are recognised when the charity has been notffied in writin8 of both the amount and settlement dète. In the event th3t a donation 15 5ubJect to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met. or the lulfilment of those conditions is wholly wr(hin the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Gn7nts receivable Grants are COgnised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be fflet. the income is recognised as a liability and intludd on the balante sheet as deferfed income to be released. Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expéndlture All expenditure is recognised once there is a legal or constructive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs a allocated to the applicable expendtture heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headin85 they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation char8es allocated on the portion of the a55et's use. Other support costs are allocated based on the spread of staff costs. Roisinglunds These are costs incurred in attracting voluntary income. the managernent of investments and those incurred in trading actiwtie5 that raise funds. Charltable artlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It inclutles both costs that can be allocated directly to such activitie5 and those Costs of an indire¢t nature ne¢essary to support them. Grontprnvlslons Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Governante t05ts These include the costs attributable to the charitys compliance with constitutional and statutory requirement5. including audit. strategic fflan3gement and tru5tee5' meetlnB5 and reimbursed expenses. Page 14
ESTA String Teachers Association Ltd Notes to the Flnanaal Statements for the Year Ended 30 Septernber 2022 Government grants Govemment 8rant5 are reco8nised based on the accrual model and are measvred at the fair valije of the asset received or receivable. Grants are classified a5 relating eithcr to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grarbt relating to an asset Is deferred, it is recognised as deferred income. Taxation The charity is considered to pa55 the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes_ Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sertion 256 of the Taxation of Chargeable Gains Act 1992. to the exrent that such income or gains are applied exclusively to charitable purp05e5. Intangible assets Intangible assets are stated in the Balance Sheet at cost less accurnulated amortiSation and imp•irment. They are amortised on a straight line basi5 over their estimated useful lives. Tanwble rimed a55ets Individual fixed assets costing ÉICQ.C¥) or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impaiment losses. Amortlsatlon Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual valut, over their experted useful economic life as follows= Asset class Amortisation meih¢)d and rate 20% per annum by equal annual instalrnènts Intangible assets Depreciation and amortisation Depreciation is provided orb tangible fixed assets so as to write off the cost or valuation. less any estimated residual value. over their expected useful economic life as follow5.. A55et cla$5 Depretiation mèthod and rale 25% per annum by equal annual instalments Fixtures, fittinES at)d software Pa8e 15
ESTA String Teachers Association Ltd Note5 to the Financial Statements for the Year Ended 30 September 2022 Fixed a55et in¥estmenls Fixed asset investments, other than programme related investments. are included at markèt value at the balance sheet date. Realised gains and 195se5 on investments are calculated as the difference between sales proceeds and their market value at the start of the year. or their sijbsequent C05t, and are tharged or credited to the Statement ol Financial Artivities in the period of disposal. Unreali5ed 8ain5 and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Artivities based on the markrf ¥alue at the year end. Trade débtors Trade debtors are amounts due from customers for merchandise sold or services perforrnefl in the ordinary course of business. Trade debtor5 are recognised initially at the transaction pri. They are subsequently measured at amortised C05t usin8 the effertive interest method. less prowsion for impainnent. A prowsion for the impairment of trade debtors is established when there is objective ewdence that the charity will rtrot be able to collect all amounts due according to the Ofl8inal terms of the receivables. Cash and cash equSvalents Cash and cash equivalents comprise cash on hand and call dep05its. and other short-term hi8hly liquid investments that are readily convertible to a known amount of cash and are subjert to an insignificant risk of change in value. Tradt trèditors Trade creditors are obligations to pay for Boods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period. to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reportin8 date. they are presented as non-current liabilities. Trade creditors are Ognised initialty at the transaction price and subsequentty measured at amortised c05t using the effective interest method. Page 16
ESTA String Teachers Association Ltd Notes to the Financial Statements for the Year Ended 30 Septernber 2022 Foreign exchan8e Transactions in forer8n currencies are recorded at the rate of exchange at the date of the transartion. Monetary assets and liabilities denominated in loreign CUTrencies at the balance sheet date are reported at the rates of exchange prevailing at that date. The results of o¥er5eas operations are translated at the average rates of exchange durin8 the ptriod and their balance sheets at the rates rulin8 at the balan¢e sheet date. Exchange differences arising on translation of the opening net assets and results of over5ea5 operations are reported in other comprehensive incorne and accumulated in equity lattrbbuted to non-controlling interests as appropriatel. Other exchange differences are recognised in the Statement of Financial Activitie5 in the period in which they arise except for.. 11 exchange differences on transartions entered into to hedge certain forei8n currency risks (see above),. 21 exchange differences arising on gains or losses on non-monetary rtems which are recognised in other comprehensive income.. and 31 in the case of the consolidated financial statements. exchange differences on monetary items re$Vable from or payable to a foreign operation for whith settlement is ner(her planned nor likely to occur (therefore forming Part of the net investment in the foreign operation). whith are recognised in other comprehensive income and reported under equity. Fund structure Unrestricted income funds are general furbds that arè available for use at the trustees discretion in furtherance of the objectives of the charitv. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restrtcted to that area or purpo*. Penslons and other post retlrement obli8atiODS The charity operates a defined contribution pension scheme which is a pension plan under which fjxed contributions are paid into a pension fvnd and the charity has no leg31 or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the turrent and prior periods_ Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they ale due. If contribution payments exceed the contribution dye for service. the excess Is recognised as a prepayment. Page 17
ESTA String Teachers Association Ltd Note5 to the Financial Statements for the Year Ended 30 September 2022 3 Inc(Yne from donatlons and legacies Unrestricted funds Restrkted funds Total fvnds Donations and le8acies,' Gift aid reclaimed 15,975 70.688 15,975 173,396 Regular giving and capital donations 102.708 Total for 2022 86.663 102.708 189.371 Total for 2021 97.502 4.504 102.006 4 Income from charftable arti¥lties Unrestricted nds Total funds Events and courses 176,226 176,226 Total for 2022 176.226 176,226 Total for 2021 55,730 55,730 5 Investment Income Unrestrirted lunds Re5trtcted funds Total funds Interest reCeiVae and Milar income: Interest receivable on bank deposits Other income from fixed asset investments 3.893 3.893 Total fN 2022 3,893 3,896 Total for 2021 3,114 3,114 Page 18
ESTA String Teachers Association Ltd Notes to the Financial Statements for the Year Ended 30 September 2022 6 Expenditure on charitable •¢ti¥lfres Unrestricted funds Restrirted funds Total funds Note Events and courses 104,824 15,693 412 105,236 15.693 4.600 89,876 Membership berfIts Grant funding of activities GoveTnance costs 4,600 1,639 88.237 Toial for 2022 208.754 6.651 215,405 Total for 2021 165.473 6,602 172.075 7 Anaty5i5 of governance and support costs Go¥ernance costs Urtrestrkted fvnds Restricted funds Total funds Staff costs Wa8e5 and salarie5 Pension costs 31,950 3,374 4,647 31.950 3.374 4.647 481 Legal fees Depreciation, amort15ation and other similar costs Other governance costs 47.785 1,639 49.424 Total for 2022 88.237 1.639 89,876 Total for 2021 86.712 1.387 88,099 Page 19
ESTA String Teachers A55ociation Ltd Notes to the Financial Statements for the Year Ended 30 September 2022 8 Government grants During the year the charity took advantage of the 8ounce Back Loan scheme offered by the UK Govemment as part of the Coronawrus ICOVID-191 support. For the first 12 months the interest is paid by the UK Government. Thi5 amount 15 re¢ognised in these accounts as both interest paid and government grants received. The amount of Brant5 reco8nised in the financial statements was £-12021- £4691. 9 Net in¢omiWoUt8oln8 resour¢es Net incorninBllouigoingl resources for the year include: 2022 2021 Depreciation of fixed assets 400 10 Trustees remuneration and expen During the year the charity made the follon8 transactions with tnistees.. Nicole je(? Kate Wi150n £34412021.. £Nill of expenses were reimbursed to Nicole Jessica Kate Wi150n during the year. The expenses relate to reimbursed travd expenses. Elizabdh Goble £48012021.. £Nill of expenses were reimbursed to Elizabeth Goble during the year. The expense5 relate to reimbursed travd expenses. PaBe 20
ESTA String Teachers Association Ltd Notes to the Financial Statements for the Year Ended 30 September 2022 11 Staff costs The aggregate payroll tosts wtre as follows-. 2022 2021 Staff costs during the year wefe: Wages and salaries Pension costs 31.950 3.374 26,976 2,860 17 Other staff costs 35,324 29,853 The monthly average number of persons lincluding senior management I leadership team) èmployed by the harity during the year expressed as full time equivalents was as follows.. 2022 No 2021 No Employees 112021- 1> of the above employees participated in the Defined Contribution Pension Schemes. No employee received emoluments of more than £60,(O) during the year. 12 Independent examiner's remuneration 13 Taxation The ¢harity is è registered charity and is therefo exempt from taxation. Page 21
ESTA String Teachers Association Ltd Notes to the Financial Statements for the Year Ended 30 September 2022 14 Intan¥ible fixed assets Websile Total Cost At l October 2021 27.S20 27.520 At 30 September 2022 27.520 27.520 Amorti3aiion At l October 2021 27.519 27.519 At 30 September 2022 27.519 27.S19 Net book value At 30 September 2022 At 30 September 2021 15 Tanglble fixed amets Furniture and equipment Total Cost At l October 2021 19.958 1,290 19.958 1,290 Additions At 30 September 2022 21.248 21.248 Oepreciation At l Octobef 2021 19.556 19.556 480 Charge for the year At 30 September 2022 20.036 20.036 Net book value At 30 September 2022 1.212 1.212 At 30 September 2021 402 402 Page 22
ESTA String Teachers Association Ltd Notes to the Financial Statements for the Year Ended 30 September 2022 16 Fixed asset Investments Rathbone Investment Management- Joan Dbckson Rathbone Rathbone Investment Investment Management- Management- Nutshell Strlngwkse Total Cost or Valuatlon At l October 2021 47,542 14,0941 70.136 16.1271 2.671 16281 42.569 17.7351 51.223 15891 117,678 110.2211 2.671 15,0501 Revaluation Additions Disposals 14.4221 At 30 Septernber 2022 39,026 66,052 85,468 105.078 Net book lue At 30 Septernber 2022 39.026 66,052 85,468 105.078 At 30 September 2021 47.542 70.136 42.569 117.678 The market value of the listed invellments at 30 September 2022 was £Nil12021- £160,2471. Investments are included at market value on the balance sheet date. Any gain or loss on revaluation 15 taken to the Statement of Financial Artivitie51SOFAI. 17 Debtors 2022 2021 Trade debtor5 11.360 3.360 2,095 3.360 Prepayments 14.720 5,455 18 Cash and cash equl¥alefits 2022 2021 Cash at bank 142,874 31 17.738 10,228 Short-term deposits 142,905 27,966 Page 23
ESTA String Teachers Association Ltd C6 Notes to the Financial Statements for the Year Ended 30 September 2022 19 Credltors: amounts falling due wrthin one year 2022 2021 Bank loans 5.OCIO 5,075 12,874 Trade creditor5 Payments on account on long term Contracts Other taxation ar¢d social se¢urity Other creditor5 33,082 5,000 11,0331 1,623 3.657 12611 11.3331 3.180 Accruals 47.329 19,535 20 Credltors: amounts falling dut after one year 2022 2021 Bank loans 13,750 19,611 21 Penslon and other Khemes Defined contrlbutivn pension xheme The charity operate5 a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the ¥heme and amounted to £3.37412021- £2,860). 22 Funds Other re¢o8nised gains111055es) B*nce at ao Septèmber 2022 8alance at I Ortober 2021 In¢omin8 resources Resources expended Unrestrirted fvnds 116.5S61 263,642 1211,7201 15371 34,829 Re5trirted 171.481 106.601 15,0121 119.5941 253,476 Total fund5 154,925 370,243 1216,7321 120.1311 288.305 Page 24
ESTA Strin8 Teachers Association Ltd Notes to the Financial Staternents for the Year Ended 30 September 2022 Other CO8nised 8ainslllosj Balance al 30 September 2021 Balance at I Odober 2020 Incoming resources R¢sources expended Unrestrirted funds 13.2511 154,537 1167,2201 16221 116,5561 Restrirted 157.619 7.618 15.2151 11.459 171,481 Total funds 154.368 162,155 1172.4351 10,837 154.925 23 Anatyys of net assèts bètwtÈn funds Vnrestrirted funds 2022 Total funds Restrlrted Intangible fixed assets Tangible fixed assets Fixed asset investments 1.212 1,212 190.546 157.625 147.3291 113.7501 190,546 57.340 Curreni asseis IrKI.285 147.3291 113,7501 Curreni liabilitie5 Creditors over l year Total net assets 40.419 247,886 288.305 Unrestrirted funds 2021 Total funds Re5trirted Intangible fixed assets Tangible fixed assets Fixed asset investments 402 402 160,247 8,895 160,247 33,421 19.5351 119.6111 Current assets 24.526 119.5351 119.6111 Curreni liabilities Creditors over l year Total net assets 114.2171 169,142 154,925 Page 25
ESTA Strin8 Teachers Associatlon Ltd Detailed Staternent of Financial A¢tivities for the Year Ended 30 September 2022 Total 2022 Total 2021 Income and Endowments fr(vTh: Donations and legacies lanalysed below) Charitable activities lanalysed belowl Investment income lanalysed below) Other income lanalysed belowl 189.371 176,226 3.896 750 102.(KJ6 55,730 3.114 1,305 Total income 370.243 162.155 E¥pendltUTe on: Raising fund5 lanalysed belowl Charitable activities lanalysed below) 13.5031 1215.4051 12,3691 1172,0751 Total expenditure 1218,9081 1174,4441 Net income/lexpen¢Yiturel 151,335 112,2891 Net movement in funds 151.335 112.2891 Reconciliation of fund5 Total funds brought forward 154.925 154.368 Total funds carried foN4ard 306.260 142.079 This pe does not form part of the statutory financial statements. Page 26
ESTA String Teachers A550ciation Ltd Detailed Statement of Financial Actlvities for the Year Ended 30 September 2022 Total 2022 Total 2021 Dvnqrh>ns qndlegticies Gift Aid tax reclaimed 15,975 9.449 469 UK Government 8rantS Subscriptions Sponsorship (Joan Dickson Fund) Sponsorship (Nutshell Fundl Spon50r5hip Istringwse Fund) Sponsorship Iunresirictedl 70,308 87.183 2,252 2,252 102,708 380 401 189.371 102,Crf)6 Choritoble ortivities Events 44.180 132,046 19.7841 65,514 ESTA Education 176.226 55.730 InStnIent income Incorne from listed investments Iloan Dickson FurKI) Incorne from listed investments (Nutshell Fund) Income from listed investments 1,096 1,575 1,222 1,343 831 Interest on cash deposits 3,896 3.114 Otherincome Sundry income DBS application fees 470 1,305 280 750 1.305 RuisingAunds Advertising Website development and maintenance 13,4241 1791 11,6911 16781 13.5031 12,3691 Clritable artlvities Direct costs ESTA Events and Accredited Courses Istringwise Fund) ESTA Events and A¢trÈdited Course5 Member's legal and public liability cover Grants payable (Joan Dickson Fund) 111,1751 14121 193,6491 115.6931 13,6001 110,8871 151,4391 116.4351 15,2151 This page does not form part of the statutory financial statements. Page 27
ESTA String Teachers Association Ltd Detalled Statement of Financial Activities for the Year Ended 30 September 2022 Total 2022 Total 2021 Grants payable INutshell Fund) Credit card charges Wages and salaries Staff pensions Staff training ESTA liability and trustee insurance Telephone and fax Computer software and maintenance costs Printing, postage and stationery Trade subscriptions Sundry expenses Travel and subsistence 12.3471 131,9501 13.3741 126,9761 12,8601 14,6231 13741 15.3081 11841 12.8181 16.8211 11.9681 11771 14.ICQI 122.3651 14221 16281 1589} 15471 12631 15371 14811 17,1871 19771 12201 12,6441 15601 Customer entertaining Accountancy fees Consultancy fees Management fees for investments ljoan Dickson Fund) Management fees for investments INuishell Fund) Management fees for investments Istringwisel Legal and professional fees Bank charges Bank interest payable Depreciation of oifice equipment 13.3741 137.3921 14151 16051 13671 11.0421 12,4411 16221 14001 1215,4051 1172.0751 This page does not form part of the statutory financial statemen Page 28